IRS Drops Standard Mileage Rate

Tuesday, 22 December 2015
Tax

tpaStandard mileage rates for 2016 are going the same way gasoline prices have gone in the last few months—down. The Internal Revenue Service has lowered rates for personal vehicles to 54 cents per business mile driven, down from 57.5 cents for 2015. The rate for medical or moving purposes will drop 19 cents per mile as of January 1, down from 23 cents this year.

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